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CONMED Corporation Stock Forecast NASDAQ:CNMD

$131.86 (-2.45%)

Volume: 249k

Closed: Dec 03, 2021

Hollow Logo Score: -2.752

CONMED Corporation Stock Forecast

$131.86 (-2.45%)

Volume: 249k

Closed: Dec 03, 2021

Score Hollow Logo -2.752
Which way will CNMD go? Request
Key Stats
P/E Ratio 61.96
Beta 1.07
Trailing Dividend Rate 0.61% ($0.80)
Next Dividend Date Dec 14, 2021
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
RSImin/max Values: [ 25 - 75 ] The CONMED Corporation stock currently holds an RSI14 at 18 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.

CONMED Corporation stock price down 2.45% on Friday
(Updated on Dec 03, 2021)


Sell candidate since 2021-12-03

The CONMED Corporation stock price fell by -2.45% on the last day (Friday, 3rd Dec 2021) from $135.17 to $131.86. During the day the stock fluctuated 6.08% from a day low at $128.18 to a day high of $135.97. The price has fallen in 8 of the last 10 days and is down by -7.45% for this period. Volume has increased on the last day by 41 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 249 thousand shares were bought and sold for approximately $32.83 million.

The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $131.80 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 13.66% during the next 3 months and, with a 90% probability hold a price between $149.80 and $184.56 at the end of this 3-month period.

Signals & Forecast

A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 0.53%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CONMED Corporation stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $134.27 and $144.91. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss

CONMED Corporation finds support from accumulated volume at $130.83 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $7.79 between high and low, or 6.08%. For the last week, the stock has had a daily average volatility of 4.29%.

CONMED Corporation is oversold on RSI14 (18). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold an negative evaluation for this stock. No stop-loss is set.

Is CONMED Corporation stock A Buy?

The CONMED Corporation stock holds several negative signals and despite the positive trend, we believe CONMED Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.752

Predicted Opening Price for CONMED Corporation of Monday, December 6, 2021

The predicted opening price is based on yesterday's movements between high, low, and the closing price.

Fair opening price December 6, 2021 Current price
$132.00 $131.86 (Undervalued)
Sell Candidate Unchanged

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Analyst Ratings

On Oct 28, 2021 "Needham & Company LLC" gave "$150.00 - $158.00" rating for CNMD. The price target was changed from $139.73 to 2.6%.

Volatility and Risk
Daily Average Volatility: 4.29 %
Overall Risk: Very High High Medium Low Very Low
Volatility
4.29 %
Daily Average Volatility
Overall Risk

Very High
High
Medium
Low
Very Low

Support & Resistance

Resistance: $142.48
Price: $131.86
Support: $130.83

CNMD Insider Trading Show all Trades

INSIDER POWER

0.903

Last 100 transactions
Buy: 920 962 | Sell: 1 019 448 (Shares)
Date Action Amount Person Type
Nov 05, 2021 Sell 1 843 Tryniski Mark E Options To Purchase Common Stock
Nov 05, 2021 Sell 100 Tryniski Mark E Common Stock
Nov 05, 2021 Sell 1 743 Tryniski Mark E Common Stock
Nov 05, 2021 Buy 1 843 Tryniski Mark E Common Stock
Nov 05, 2021 Sell 2 386 Tryniski Mark E Common Stock
Show all Insider Trades
INSIDER POWER

0.903

Last 100 transactions
Buy: 920 962 | Sell: 1 019 448 (Shares)

Fibonacci Support & Resistance Levels

Level Price Change
Resistance 139.79 6.02 %
136.82 3.76 %
134.98 2.37 %
Current price: 131.86
Support 129.03 -2.15 %
127.19 -3.54 %
124.21 -5.80 %

Accumulated Volume Support & Resistance Levels

Level Price Chg %
Resistance 146.22 10.89 %
145.69 10.49 %
142.48 8.05 %
Current price 131.86
Support 130.83 -0.78%
130.45 -1.07%
130.03 -1.39%

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About CONMED Corporation

CONMED CONMED Corporation, a medical technology company, develops, manufactures, and sells surgical devices and related equipment for minimally invasive procedures in the United States, Canada, the United Kingdom, Japan, Australia, and internationally. The company offers sports medicine products, such as powered resection instruments, arthroscopes, reconstructive systems, tissue repair sets, metal and bio absorbable implants, and related disposable prod... Read more

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